Panagora Asset Management Inc. Acquires 167,322 Shares of Sally Beauty Holdings, Inc. $SBH

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Sally Beauty Holdings by 72.6%, acquiring a total of 397,697 shares valued at approximately $3.59 million.
• Sally Beauty reported earnings of $0.51 per share, exceeding expectations of $0.42, while its quarterly revenue totaled $933.31 million, slightly above analyst predictions.
• In recent analyst reports, Canaccord Genuity raised its price target for the stock from $14.00 to $15.00 and maintained a "buy" rating, reflecting positive sentiment among some analysts despite mixed ratings overall.

Panagora Asset Management Inc. boosted its stake in Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 72.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,697 shares of the specialty retailer's stock after acquiring an additional 167,322 shares during the quarter. Panagora Asset Management Inc. owned 0.39% of Sally Beauty worth $3,591,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SBH. Millennium Management LLC lifted its position in Sally Beauty by 1,177.7% in the 4th quarter. Millennium Management LLC now owns 1,136,121 shares of the specialty retailer's stock valued at $11,872,000 after acquiring an additional 1,047,199 shares in the last quarter. Nuveen LLC bought a new stake in Sally Beauty in the 1st quarter valued at $8,600,000. CenterBook Partners LP lifted its position in Sally Beauty by 359.3% in the 1st quarter. CenterBook Partners LP now owns 961,230 shares of the specialty retailer's stock valued at $8,680,000 after acquiring an additional 751,943 shares in the last quarter. Ranmore Fund Management Ltd lifted its position in Sally Beauty by 74.2% in the 1st quarter. Ranmore Fund Management Ltd now owns 1,420,000 shares of the specialty retailer's stock valued at $12,823,000 after acquiring an additional 605,000 shares in the last quarter. Finally, Lightrock Netherlands B.V. lifted its position in Sally Beauty by 65.0% in the 1st quarter. Lightrock Netherlands B.V. now owns 1,479,307 shares of the specialty retailer's stock valued at $13,380,000 after acquiring an additional 583,000 shares in the last quarter.

Insider Activity

In related news, Director Diana Sue Ferguson purchased 2,500 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $12.02 per share, for a total transaction of $30,050.00. Following the purchase, the director owned 7,912 shares in the company, valued at approximately $95,102.24. This represents a 46.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Denise Paulonis purchased 4,500 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $11.74 per share, for a total transaction of $52,830.00. Following the purchase, the chief executive officer owned 366,865 shares in the company, valued at $4,306,995.10. The trade was a 1.24% increase in their position. The disclosure for this purchase can be found here. 1.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen cut shares of Sally Beauty from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group boosted their price target on shares of Sally Beauty from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, TD Cowen boosted their price target on shares of Sally Beauty from $13.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.88.

Sally Beauty Stock Performance

Shares of Sally Beauty stock traded up $0.39 during trading on Friday, hitting $14.52. 2,509,017 shares of the stock were exchanged, compared to its average volume of 2,149,504. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 7.80 and a beta of 1.38. The company has a fifty day moving average price of $11.53 and a 200-day moving average price of $9.69. Sally Beauty Holdings, Inc. has a 1-year low of $7.54 and a 1-year high of $14.79. The company has a current ratio of 2.41, a quick ratio of 0.49 and a debt-to-equity ratio of 1.16.

Sally Beauty (NYSE:SBH - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.09. The company had revenue of $933.31 million for the quarter, compared to analyst estimates of $928.78 million. Sally Beauty had a net margin of 5.26% and a return on equity of 28.11%. Sally Beauty's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. Sally Beauty has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Sally Beauty Holdings, Inc. will post 1.81 EPS for the current fiscal year.

About Sally Beauty

Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.